India Oil Trade in October 2013

Source: OPEC 11/18/2013, Location: Asia

In September, India’s crude imports averaged 4.0 mb/d, 65 tb/d or 2% lower than the level seen last month, yet 259 tb/d or 7% higher on an annual basis.

Product imports saw a slight increase by 6 tb/d or 2% from a month ago to average 376 tb/d, the highest level of product imports since May 2013; however, y-o-y, this reflects a drop of 21 tb/d or 5%. The monthly product imports saw a drop in fuel oil, while imports of naphtha were higher. Diesel imports remained stable from last month.

India’s product exports decreased in September by 175 tb/d or 11% from the previous month to average 1,433 tb/d, and dropped by 42 tb/d or 3%.from a year earlier. Exports of diesel dropped by 18% from the previous month while remaining 12% higher than the previous year. Other product exports, like naphtha and fuel oi,l dropped by a lesser volume. Consequently, India’s net imports increased by 117 tb/d to average 2.9 mb/d, which is 4% higher than last month and 7% higher than a year ago.